Legal Marijuana Market Analysis and forecast to 2032: By Product Type (Flower, Oil, Tinctures), Species (Cannabis Indica, Cannabis Sativa, Cannabis Hybrid), Strain (THC-dominant, CBD-dominant, Balanced THC & CBD), Application (Medical, Adult Use), and Region
The Legal Marijuana Market size was USD 18.5 Billion in 2022 and is anticipated to reach USD 75.4 Billion in 2032, growing at a rate of 15.1% from 2023 to 2032.
Since the early 1900s, marijuana has been regulated as a drug in the United States, with laws prohibiting its use, sale, and cultivation. In recent years, however, a number of states have legalized marijuana for medical or recreational use. This change in policy has led to a new industry of legal marijuana businesses, which are developing innovative technologies to support the cultivation, sale, and use of marijuana.
The legal marijuana industry is still in its early stages, and it is likely that new technologies will continue to be developed to support it. As the industry grows, these technologies will help to ensure that marijuana is grown, sold, and used in a safe and compliant manner.
Key Trends
The legal marijuana market is growing rapidly as more and more states legalize the use of marijuana for medicinal and recreational purposes. The market is expected to continue to grow in the coming years as more states legalize marijuana and as the stigma surrounding marijuana use continues to dissipate.
Some of the key trends in the legal marijuana market include:
1. Increased demand for high-quality marijuana: As the legal marijuana market grows, there is an increasing demand for high-quality marijuana. This is especially true for medical marijuana patients who need a consistent and potent product.
2. More sophisticated cultivation methods: As the demand for high-quality marijuana increases, growers are using more sophisticated cultivation methods to produce better yields. This includes using hydroponic systems and LED lighting.
3. Increased use of marijuana concentrates: Marijuana concentrates are becoming increasingly popular as they offer a more potent and efficient way to consume marijuana. This is especially true for medical marijuana patients who need a high dose of THC.
4. Development of new delivery methods: There is a growing demand for new and innovative ways to consume marijuana. This includes the development of new delivery methods such as cannabis-infused edibles and topicals.
5. Expansion of the retail market: As the legal marijuana market grows, so does the retail market. More and more dispensaries are opening up across the country, making it easier for consumers to access marijuana.
6. Growth of the online market: The online market for legal marijuana is also growing rapidly. This is due to the fact that it is easier and more convenient to purchase marijuana online.
7. Increase in investment: As the legal marijuana market continues to grow, so does investment in the industry. This is leading to the development of new products and businesses.
8. Increased scientific research: As marijuana becomes more mainstream, there is an increase in scientific research being conducted on the plant. This is leading to a better understanding of the plant and its potential medical applications.
Key Drivers
The therapeutic applications of marijuana are expected to drive the market growth. The plant contains more than 100 active cannabinoids, which are responsible for its therapeutic effects. These cannabinoids interact with the endocannabinoid system of the human body, which is responsible for regulating various physiological and cognitive processes. The therapeutic benefits of marijuana include pain relief, anti-inflammatory, anti-anxiety, and anti-seizure properties.
The recreational use of marijuana is another key driver of the legal marijuana market. The use of marijuana for recreation is legal in several countries including Canada, Uruguay, and some states in the US. The recreational use of marijuana is associated with several benefits such as stress relief, increased creativity, and improved sleep. In addition, the legalization of recreational marijuana is expected to drive the market growth.
The increasing investments in the marijuana industry are expected to drive the market growth. Several companies are investing in the research and development of marijuana-based products. In addition, the increasing number of mergers and acquisitions in the marijuana industry is expected to drive the market growth.
The growing acceptance of cannabis as a medicine and recreational drug is expected to drive the legal marijuana market growth. The legalization of marijuana in several countries is expected to drive the market growth. The increasing investments in the marijuana industry are expected to drive the market growth.
Restraints & Challenges
The legal marijuana market is still in its infancy, and there are many challenges that need to be addressed in order to ensure its long-term success.
One of the key challenges is the lack of standardization. With so many different states and countries legalizing marijuana, there is no one-size-fits-all approach to regulation. This can make it difficult for businesses to operate in multiple jurisdictions and can also lead to confusion for consumers.
Another challenge is the high cost of compliance. Due to the strict regulations surrounding the cultivation, production, and sale of marijuana, businesses need to invest heavily in compliance measures. This can make it difficult for small businesses to enter the market and can also drive up the price of marijuana products.
Finally, the marijuana industry is still largely cash-based. Due to the federal ban on marijuana, banks and other financial institutions are reluctant to do business with businesses involved in the industry. This can make it difficult for businesses to manage their finances and can also make it difficult for consumers to purchase marijuana products with credit or debit cards.
Market Segments
The Legal Marijuana Market is segmented by product type, species, strain, application, and region. By product type, the market is divided into flower, oil, and tinctures. Based on the species mode the market is bifurcated into cannabis indica, cannabis sativa, and cannabis hybrid. By strain, it is categorized as THC-dominant, CBD-dominant, and Balanced THC & CBD. Whereas on the basis of the application, it is segmented into medical and adult use. Region-Wise the market is segmented by North America, Europe, Asia-Pacific, and the rest of the world.
Key Players
The Legal Marijuana Market report includes players such as Canopy Growth Corporation (Canada), Aurora Cannabis (Canada), Tilray (Canada), Green Organic Dutchman Holdings Ltd. (Canada), The Cronos Group (Canada), MedReleaf Corp. (Canada), Hydropothecary (Canada), Maricann Group Inc. (Canada), Emblem Cannabis Corp. (Canada), and Organigram Holdings Inc. (Canada), among others.
Legal Marijuana Market Report Coverage
- The report offers a comprehensive quantitative as well as qualitative analysis of the current Legal Marijuana Market outlook and estimations from 2022 to 2032, which helps to recognize the prevalent opportunities.
- The report also covers qualitative as well as quantitative analysis of the Legal Marijuana market in terms of revenue ($Million).
- Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Legal Marijuana Market industry.
- A thorough analysis of market trends and restraints is provided.
- By region as well as country market analysis is also presented in this report.
- Analytical depiction of the Legal Marijuana Market along with the current trends and future estimations to depict imminent investment pockets. The overall Legal Marijuana Market Industry opportunity is examined by understanding profitable trends to gain a stronger foothold.
- Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Legal Marijuana Market are also analyzed.
Table of Contents
Chapter 1. Legal Marijuana Market Overview
1.1. Objectives of the Study
1.2. Market Definition and Research & Scope
1.3. Research Limitations
1.4. Research Methodologies
1.4.1. Secondary Research
1.4.2. Market Size Estimation Technique
1.4.3. Forecasting
1.4.4. Primary Research and Data Validation
Chapter 2. Executive Summary
2.1. Summary
2.2. Key Highlights of the Market
Chapter 3. Premium Insights on the Market
3.1. Market Attractiveness Analysis, By Region
3.2. Market Attractiveness Analysis, By Product Type
3.3. Market Attractiveness Analysis, By Application
3.4. Market Attractiveness Analysis, By Species
3.5. Market Attractiveness Analysis, By Strain
Chapter 4. Legal Marijuana Market Outlook
4.1. Legal Marijuana Market Segmentation
4.2. Market Dynamics
4.2.1. Market Drivers
4.2.1.1. Driver 1
4.2.1.2. Driver 2
4.2.1.3. Driver 3
4.2.2. Market Restraints
4.2.2.1. Restraint 1
4.2.2.2. Restraint 2
4.2.3. Market Opportunities
4.2.3.1. Opportunity 1
4.2.3.2. Opportunity 2
4.3. Porter’s Five Forces Analysis
4.3.1. Threat of New Entrants
4.3.2. Threat of Substitutes
4.3.3. Bargaining Power of Buyers
4.3.4. Bargaining Power of Supplier
4.3.5. Competitive Rivalry
4.4. PESTLE Analysis
4.5. Value Chain Analysis
4.5.1. Raw Industry Vertical Suppliers
4.5.2. Manufacturers
4.5.3. Wholesalers and/or Retailers
4.6. Impact of COVID-19 on the Outpatient Oncology Infusion Market
4.7. Impact of the Russia and Ukraine War on the Outpatient Oncology Infusion Market
Chapter 5. Legal Marijuana Market By Product Type
5.1. Market Overview
5.2. Flower
5.2.1. Market Size And Forecast
5.2.2. Market Size And Forecast, By Region
5.3. Oil and Tinctures
5.3.1. Market Size And Forecast
5.3.2. Market Size And Forecast, By Region
Chapter 6. Legal Marijuana Market By Application
6.1. Market Overview
6.2. Medical
6.2.1. Market Size And Forecast
6.2.2. Market Size And Forecast, By Region
6.3. Adult use
6.3.1. Market Size And Forecast
6.3.2. Market Size And Forecast, By Region
Chapter 7. Legal Marijuana Market By Species
7.1. Market Overview
7.2. Cannabis Indica
7.2.1. Market Size And Forecast
7.2.2. Market Size And Forecast, By Region
7.3. Cannabis Sativa
7.3.1. Market Size And Forecast
7.3.2. Market Size And Forecast, By Region
7.4. Cannabis Hybrid
7.4.1. Market Size And Forecast
7.4.2. Market Size And Forecast, By Region
Chapter 8. Legal Marijuana Market By Strain
8.1. Market Overview
8.2. THC-dominant
8.2.1. Market Size And Forecast
8.2.2. Market Size And Forecast, By Region
8.2.3. Market Size And Forecast, By Region
8.3. CBD-dominant
8.3.1. Market Size And Forecast
8.3.2. Market Size And Forecast, By Region
8.3.3. Market Size And Forecast, By Region
8.4. Balanced THC and CBD
8.4.1. Market Size And Forecast
8.4.2. Market Size And Forecast, By Region
8.4.3. Market Size And Forecast, By Region
Chapter 9. Multi-Cloud Management Market, By Region
9.1. Overview
9.2. North America
9.2.1. Key Market Trends And Opportunities
9.2.2. North America Legal Marijuana Market Size And Forecast By Product Type
9.2.3. North America Legal Marijuana Market Size And Forecast by Species
9.2.4. North America Legal Marijuana Market Size And Forecast By Application
9.2.5. North America Legal Marijuana Market Size And Forecast By Strain
9.2.6. North America Legal Marijuana Market Size And Forecast by Country
9.2.7. The U.S.
9.2.7.1. The U.S. Legal Marijuana Market Size And Forecast By Product Type
9.2.7.2. The U.S. Legal Marijuana Market Size And Forecast by Species
9.2.7.3. The U.S. Legal Marijuana Market Size And Forecast By Application
9.2.7.4. U.S. Legal Marijuana Market Size And Forecast By Strain
9.2.8. Canada
9.2.8.1. Canada Legal Marijuana Market Size And Forecast By Product Type
9.2.8.2. Canada Legal Marijuana Market Size And Forecast by Species Concentrators
9.2.8.3. Canada Legal Marijuana Market Size And Forecast By Application
9.2.8.4. Canada Legal Marijuana Market Size And Forecast By Strain
9.2.9. Mexico
9.2.9.1. Mexico Legal Marijuana Market Size And Forecast By Product Type
9.2.9.2. Mexico Legal Marijuana Market Size And Forecast by Species
9.2.9.3. Mexico Legal Marijuana Market Size And Forecast By Application
9.2.9.4. Mexico Legal Marijuana Market Size And Forecast By Strain
9.3. Europe
9.3.1. Key Market Trends And Opportunities
9.3.2. Europe Legal Marijuana Market Size And Forecast By Product Type
9.3.3. Europe Legal Marijuana Market Size And Forecast by Species
9.3.4. Europe Legal Marijuana Market Size And Forecast By Application
9.3.5. Europe Legal Marijuana Market Size And Forecast By Strain
9.3.6. Europe Legal Marijuana Market Size And Forecast by Country
9.3.6.1. Germany
9.3.6.2. Germany Legal Marijuana Market Size And Forecast By Product Type
9.3.6.3. Germany Legal Marijuana Market Size And Forecast by Species
9.3.6.4. Germany Legal Marijuana Market Size And Forecast By Application
9.3.6.5. Germany Legal Marijuana Market Size And Forecast By Strain
9.3.7. France
9.3.7.1. France Legal Marijuana Market Size And Forecast By Product Type
9.3.7.2. France Legal Marijuana Market Size And Forecast by Species
9.3.7.3. France Legal Marijuana Market Size And Forecast By Application
9.3.7.4. France Legal Marijuana Market Size And Forecast By Application
9.3.8. U.K
9.3.8.1. U.K. Legal Marijuana Market Size And Forecast By Product Type
9.3.8.2. U.K. Legal Marijuana Market Size And Forecast by Species
9.3.8.3. U.K. Legal Marijuana Market Size And Forecast By Application
9.3.8.4. U.K. Legal Marijuana Market Size And Forecast By Application
9.3.9. Spain
9.3.9.1. Spain Legal Marijuana Market Size And Forecast By Product Type
9.3.9.2. Spain Legal Marijuana Market Size And Forecast by Species
9.3.9.3. Spain Legal Marijuana Market Size And Forecast By Application
9.3.9.4. Spain Legal Marijuana Market Size And Forecast By Strain
9.3.10. Italy
9.3.10.1. Italy Legal Marijuana Market Size And Forecast By Product Type
9.3.10.2. Italy Legal Marijuana Market Size And Forecast by Species
9.3.10.3. Italy Legal Marijuana Market Size And Forecast By Application
9.3.10.4. Italy Legal Marijuana Market Size And Forecast By Strain
9.3.11. Russia
9.3.11.1. Russia Legal Marijuana Market Size And Forecast By Product Type
9.3.11.2. Russia Legal Marijuana Market Size And Forecast by Species
9.3.11.3. Russia Legal Marijuana Market Size And Forecast By Application
9.3.11.4. Russia Legal Marijuana Market Size And Forecast By Strain
9.3.12. Rest of Europe
9.3.12.1. Rest of Europe Legal Marijuana Market Size And Forecast By Product Type
9.3.12.2. Rest of Europe Legal Marijuana Market Size And Forecast by Species
9.3.12.3. Rest of Europe Legal Marijuana Market Size And Forecast By Application
9.3.12.4. Rest of Europe Legal Marijuana Market Size And Forecast By Strain
9.4. Asia-Pacific
9.4.1. Key Market Trends And Opportunities
9.4.2. Asia-Pacific Legal Marijuana Market Size And Forecast by Country
9.4.3. Asia-Pacific Legal Marijuana Market Size And Forecast By Product Type
9.4.4. Asia-Pacific Legal Marijuana Market Size And Forecast by Species
9.4.5. Asia-Pacific Legal Marijuana Market Size And Forecast By Application
9.4.6. Asia-Pacific Legal Marijuana Market Size And Forecast By Strain
9.4.7. China
9.4.7.1. China Legal Marijuana Market Size And Forecast By Product Type
9.4.7.2. China Legal Marijuana Market Size And Forecast by Species
9.4.7.3. China Legal Marijuana Market Size And Forecast By Application
9.4.7.4. China Legal Marijuana Market Size And Forecast By Strain
9.4.8. India
9.4.8.1. India Legal Marijuana Market Size And Forecast By Product Type
9.4.8.2. India Legal Marijuana Market Size And Forecast by Species
9.4.8.3. India Legal Marijuana Market Size And Forecast By Application
9.4.8.4. India Legal Marijuana Market Size And Forecast By Strain
9.4.9. Japan
9.4.9.1. Japan Legal Marijuana Market Size And Forecast By Product Type
9.4.9.2. Japan Legal Marijuana Market Size And Forecast by Species
9.4.9.3. Japan Legal Marijuana Market Size And Forecast By Application
9.4.9.4. Japan Legal Marijuana Market Size And Forecast By Strain
9.4.10. South Korea
9.4.10.1. South Korea Legal Marijuana Market Size And Forecast By Product Type
9.4.10.2. South Korea Legal Marijuana Market Size And Forecast by Species
9.4.10.3. South Korea Legal Marijuana Market Size And Forecast By Application
9.4.10.4. South Korea Legal Marijuana Market Size And Forecast By Strain
9.4.11. Rest of APAC
9.4.11.1. Rest of APAC Legal Marijuana Market Size And Forecast By Product Type
9.4.11.2. Rest of APAC Legal Marijuana Market Size And Forecast by Species
9.4.11.3. Rest of APAC Legal Marijuana Market Size And Forecast By Application
9.4.11.4. Rest of APAC Legal Marijuana Market Size And Forecast By Strain
9.5. Rest of The World
9.5.1. Key Market Trends And Opportunities
9.5.2. Rest of The World Legal Marijuana Market Size And Forecast By Product Type
9.5.3. Rest of The World Legal Marijuana Market Size And Forecast by Species
9.5.4. Rest of The World Legal Marijuana Market Size And Forecast By Application
9.5.5. Rest of The World Legal Marijuana Market Size And Forecast By Strain
9.5.6. Rest of The World Legal Marijuana Market Size And Forecast by Country
9.5.7. Latin America
9.5.7.1. Latin America Legal Marijuana Market Size And Forecast By Product Type
9.5.7.2. Latin America Legal Marijuana Market Size And Forecast by Species
9.5.7.3. Latin America Legal Marijuana Market Size And Forecast By Application
9.5.7.4. Latin America Legal Marijuana Market Size And Forecast By Strain
9.5.8. Middle East
9.5.8.1. Middle East Legal Marijuana Market Size And Forecast By Product Type
9.5.8.2. Middle East Legal Marijuana Market Size And Forecast by Species
9.5.8.3. Middle East Legal Marijuana Market Size And Forecast By Application
9.5.8.4. Middle East Legal Marijuana Market Size And Forecast By Strain
9.5.9. Africa
9.5.9.1. Africa Legal Marijuana Market Size And Forecast By Product Type
9.5.9.2. Africa Legal Marijuana Market Size And Forecast By Species
9.5.9.3. Africa Legal Marijuana Market Size And Forecast By Application
9.5.9.4. Africa Legal Marijuana Market Size And Forecast By Strain
Chapter 10. Competitive Landscape
10.1. Market Overview
10.2. Market Share Analysis/Key Player Positioning
10.3. Developmental Strategy Benchmarking
10.3.1. New Testing Type Development
10.3.2. Chemical-based Launches
10.3.3. Business Expansions
10.3.4. Partnerships, Joint Ventures, And Collaborations
10.3.5. Mergers And Acquisitions
Chapter 11. Company Profiles
11.1. Canopy Growth Corporation (Canada)
11.1.1. Company Snapshot
11.1.2. Financial Performance
11.1.3. Chemical-based offerings
11.1.4. Key Strategic Initiatives
11.1.5. SWOT Analysis
11.2. Aurora Cannabis (Canada)
11.2.1. Company Snapshot
11.2.2. Financial Performance
11.2.3. Chemical-based offerings
11.2.4. Key Strategic Initiatives
11.2.5. SWOT Analysis
11.3. Aphria Inc. (Canada)
11.3.1. Company Snapshot
11.3.2. Financial Performance
11.3.3. Chemical-based offerings
11.3.4. Key Strategic Initiatives
11.3.5. SWOT Analysis
11.4. Tilray (Canada)
11.4.1. Company Snapshot
11.4.2. Financial Performance
11.4.3. Chemical-based offerings
11.4.4. Key Strategic Initiatives
11.4.5. SWOT Analysis
11.5. Green Organic Dutchman Holdings Ltd. (Canada)
11.5.1. Company Snapshot
11.5.2. Financial Performance
11.5.3. Chemical-based offerings
11.5.4. Key Strategic Initiatives
11.5.5. SWOT Analysis
11.6. The Cronos Group (Canada)
11.6.1. Company Snapshot
11.6.2. Financial Performance
11.6.3. Chemical-based offerings
11.6.4. Key Strategic Initiatives
11.6.5. SWOT Analysis
11.7. MedReleaf Corp. (Canada)
11.7.1. Company Snapshot
11.7.2. Financial Performance
11.7.3. Chemical-based offerings
11.7.4. Key Strategic Initiatives
11.7.5. SWOT Analysis
11.8. Hydropothecary (Canada)
11.8.1. Company Snapshot
11.8.2. Financial Performance
11.8.3. Chemical-based offerings
11.8.4. Key Strategic Initiatives
11.8.5. SWOT Analysis
11.9. Maricann Group Inc. (Canada)
11.9.1. Company Snapshot
11.9.2. Financial Performance
11.9.3. Chemical-based offerings
11.9.4. Key Strategic Initiatives
11.9.5. SWOT Analysis
11.10. Supreme Cannabis Company Inc. (Canada)
11.10.1. Company Snapshot
11.10.2. Financial Performance
11.10.3. Chemical-based offerings
11.10.4. Key Strategic Initiatives
11.10.5. SWOT Analysis
*The List of Company Is Subject To Change During The Final Compilation of The Report
Key Players
- Canopy Growth Corporation (Canada)
- Aurora Cannabis (Canada)
- Tilray (Canada)
- Green Organic Dutchman Holdings Ltd. (Canada)
- The Cronos Group (Canada)
- MedReleaf Corp. (Canada)
- Hydropothecary (Canada)
- Maricann Group Inc. (Canada)
- Emblem Cannabis Corp. (Canada)
- Organigram Holdings Inc. (Canada)
Market Segments
By Product Type
- Flower
- Oil and Tinctures
By Species
- Cannabis Indica
- Cannabis Sativa
- Cannabis Hybrid
By Strain
- THC-dominant
- CBD-dominant
- Balanced THC and CBD
By Application
- Medical
- Chronic Pain
- Cancer
- Depression and Anxiety
- Arthritis
- Diabetes
- Glaucoma
- Migraines
- Epilepsy
- Multiple Sclerosis
- AIDS
- Amyotrophic Lateral Sclerosis
- Alzheimer’s
- Post-traumatic Stress Disorder (PTSD)
- Parkinson’s
- Tourette’s
- Others
- Adult Use
By Region
- North America
- US
- Canada
- Mexico
- Europe
- The UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Switzerland
- Russia
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Singapore
- Indonesia
- Rest of Asia-Pacific
- Rest of the World
- Latin America
- Middle East
- Africa